Wednesday, July 4, 2018

"Concerning my negative views about equities I would like to add that an important technical signal has turned down badly: the Smart Money Flow Indicator (SMART Index), which is calculated according to a special formula. The broader point I want to make is that we can see an increasing number of signs and indicators that point to a major slowdown in the global economy and to disappointing corporate earnings. Therefore, I reiterate my previous recommendation that investors who are overweight equities should really reduce their heavy exposure. "

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